Share this:

Japanese Marubeni, Sumitomo At Last Reverted To Matarbari

EB Report

Finally, two short-listed Japanese firm named Marubeni and Sumitomo has submitted tender documents for the implementation of a coal-based 1,200 MW power plant at Matarbari, Cox’s bazaar. Noteworthy that, the process of tender submission got stuck due to the terror attack that took place on 1st July in Dhaka’s Holey Artisan restaurant.

State-owned Coal Power Generation Company Bangladesh Ltd (CPGCBL) is the owner and the caretaker of the Matarbari power plant project. CPGCBL selected Japanese bidders-Marubeni Corporation and Sumitomo Corporation- following their submission of expression of interest (IOE). The bidders expressed their reluctance to go any further with this process in the wake of the Gulshan terror attack that killed a few Japanese. However, the bidder firms were expecting to extend the deadline for the tender submission which was originally July 24. The CPGCBL has extended the deadline at least for three times and the bidders submitted their tenders on last Tuesday.

Abul Quasem, the managing director of CPGCBL said that, the Matarbari power plant project is a top priority project of the government. “Gulshan attack caused some unexpected delay implementing this project, but at last we’re over it”, he added. “We’ll select one of the bidders within next May” he stated.

For the implementation of this project, CPGCBL will borrow $3.7 billion from the Japan International Cooperation Agency (JICA), at an annual interest rate of 0.1 percent over 30 years, with a 10-year moratorium period. The remaining money will come from government funds.